Vietnam tobacco import export company

Brazil begins AD sunset review on Vietnam’s rubber tyres for bicycles A rubber tyre for bycicles (Illustrative photo: Ministry of Industry and Trade) The Department of Commercial Defence (Decom) under Brazil’s Ministry of Industry, Foreign Trade and Services has initiated a sunset review of the anti-dumping duty order on new rubber tyres for bicycles classified under NCM 4011.50.00 from Vietnam, India, and China. Decom initiated anti-dumping duties against the product in December 2014, with duties imposed on Vietnam’s rubber bicycle tyres standing at 0.59-2.8 USD per kg. The department required exporters of relevant countries to respond to questionnaires indicating the information necessary to the investigation on Decom’s portal decomdigital.mdic.gov.br. They shall have a 30-day deadline for response, counting from the date of notification. The deadline can be extended up to 30 days based on request of relevant sides, the Brazilian authority added. … [Read more...] about BUSINESS NEWS IN BRIEF 14/3

Vietnam, DPRK advised to foster economic cooperation A confectionery production line Vietnam and the Democratic People’s Republic of Korea (DPRK) should maintain exchanges through political and diplomatic channels and step up the sharing of information on policies and regulations related to import-export and investment so as to boost bilateral economic and trade ties, according to an official from the Ministry of Industry and Trade. Do Quoc Hung, Deputy Head of the ministry’s Asia-Africa Market Department, further suggested the two countries’ enterprises actively participate in trade promotion activities and fairs in each country to foster their imports and exports that are not banned following the United Nations Security Council’s resolutions. According to the ministry, before 2010, Vietnam mainly bartered with the DPRK. Since 2011, the country has not imported goods from the DPRK, but mainly exported pharmaceutical products, plant oil, consumer … [Read more...] about BUSINESS NEWS IN BRIEF 1/3

Through the ratification of the CPTPP, Vietnam will be able to attract even more foreign investment to key technology sectors, Photo: Le Toan Tran Hoang Ngan has spent days studying the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). He is not a negotiator of the deal, but a National Assembly (NA) member from Ho Chi Minh City recently provided with documents related to the agreement, before it was officially discussed at the NA last week. Initially, the deal was formed in 2005 as the Trans-Pacific Partnership (TPP) by Brunei, Chile, New Zealand and Singapore. The US joined the TPP in 2008, and Vietnam quickly followed suit. In January 2017 the US withdrew from the deal, which was then inked in March 2018 under the new name of the CPTPP. “Why was Vietnam invited to join the TPP, though its per capita income is only $2,380, while the average of other member states is $30,000?” asked Ngan, who is also a senior economist. “I think member … [Read more...] about Vietnam gets to grips with CPTPP

Singaporean enterprises seek opportunities in Vietnam A Singaporean mission of nearly 20 firms will visit Vietnam from October 15 to 19 to sound out cooperation prospects. The trip is jointly held by the Vietnam Trade Office in Singapore, the Malaysia-Singapore Chamber of Commerce and Industry and the Singapore Business Federation. According to the organizers, the Singaporean delegation includes representatives of large corporations, such as Sembcorp, which has developed seven Vietnam-Singapore industrial park projects in Vietnam, and NTUC, the retailer accounting for more than half of Singapore’s market share. Besides visits to corporations and industrial parks in Vietnam, there will be trade promotion meetings in HCMC and Can Tho City so that enterprises of the two countries can seek partners and export goods. Representatives of the South Agency of the Ministry of Industry and Trade, the HCMC Department of Industry and Trade and the Vietnam Trade Office in Singapore will also … [Read more...] about BUSINESS NEWS IN BRIEF 18/10

HCMC proposes adjusting HCMC-Can Tho express railway project The scheduled route of the HCMC-Can Tho high-speed railway project as proposed by the Ministry of Transport Hospital projects in HCMC’s gateway areas yet to be approved While hospitals in the downtown area of HCMC are overloaded, three projects to upgrade general hospitals in the city’s outlying districts of Hoc Mon, Cu Chi and Thu Duc have yet to be approved. Deadly music festival organizer released A view of the Autumn Music Gala called “Trip to the Moon” Le Thai Son, director of A Chau Connected Agency which organized a music festival in which seven people died and five others were hospitalized in critical condition due to drug overdoses, was released on September 22, a day after being detained by the Hanoi Police, as the municipal People’s Procuracy did not approve his arrest, reported Lao Dong newspaper. Son was taken into police custody to serve an investigation into his alleged … [Read more...] about Social News 26/9

Vietnam Electricity revises up 2017 pre-tax profit to US$350 million Electricity demand in Vietnam is forecast to continue increasing at an average rate of 9% per annum, driven by rising industrialization, urbanization and affluence, according to Fitch Ratings. Vietnam Electricity (EVN), the sole distributor of electricity in the country, posted a revised pre-tax profit of VND8.14 trillion (US$349.8 million) for 2017, VND1.5 trillion (US$64.48 million) higher than the previously announced figure and up 58% year-on-year, the power company said on its website. EVN's revenue in 2017 reached VND300 trillion (US$12.89 billion), up nearly 8% year-on-year, while the company contributed VND19.66 trillion (US$844.8 million) to the state budget, down 7.3% year-on-year, according to EVN's latest report on its business performance result in the 2015 - 2017 period. Last year, the state-run company set aside VND118.23 trillion (US$5.07 billion) for development investment, down from … [Read more...] about BUSINESS IN BRIEF 14/9

Vinatex completes 65% of yearly revenue target Viet Nam National Textile and Garment Group (Vinatex) has completed 65 per cent of the yearly target set for total revenues with its eight-month result (excluding VAT) reaching over VND31.45 trillion (US$1.34 billion). This figure also represented a rise of 7 per cent against the same period last year, the textile group reported in a filing to the Ministry of Planning and Investment. In August alone, it earned VND4.48 trillion in revenue, down 5 per cent year-on-year, of which turnover of the parent company and subsidiaries with its holdings of over 50 per cent capital reached almost VND1.74 trillion. Revenues from other affiliate companies in which the group holds less than 50 per cent capital reached a combined VND2.74 trillion. Vinatex attributed the growth in total revenues to increases in sales of fibre products (96,051 tonnes, up 9.5 per cent year-on-year), fabric of all kinds (100.7 million m3, up 18.6 per cent) … [Read more...] about BUSINESS NEWS IN BRIEF 1/9

HCM City to get high-quality farm products from Long An Agricultural businesses in the Mekong Delta province of Long An are looking at ways to increase supplies of their products to Ho Chi Minh City, the largest economic centre in the southern region. Nguyen Ngoc Hoa, Deputy Director of HCM City’s Department of Industry and Trade, said that buying and selling was being done through modern distribution channels as well as traditional markets. Safe food, traceability of product origin, and post-harvest preservation are all important parts of today’s agricultural production process. However, there are only a few enterprises and cooperatives from Long An province that can satisfy these conditions. If enterprises and cooperatives from Long An met these conditions, they could become key suppliers to HCM City over the long term, according to Hoa. At the meeting between officials from HCM City and Long An province last week, representatives of Long An province’s enterprises … [Read more...] about BUSINESS IN BRIEF 4/5

Saigon Co.op to open 50 more convenience stores Saigon Co.op, the country’s leading retailer, will open an extra 50 Cheers in convenience stores in HCMC in partnership with NTUC FairPrice of Singapore this year, said Nguyen Thanh Nhan, general director of Saigon Co.op. At a 2017 review meeting of Saigon Co.op last week, Nhan said Cheers stores would sell household and consumer goods and operate 24/7. In HCMC, there are already two Cheers stores. Besides Cheers, Nhan said this year Saigon Co.op would open 19 more Co.opmart supermarkets, two more Co.opXtra stores, 150 more Co.opSmile shops and at least one more Co.opmart hypermarket in a high-end residential area. To maintain its position as Vietnam’s leading retailer, Saigon Co.op must focus on expanding the retail network, diversifying products and developing logistics, said Nhan. Saigon Co.op is expected to achieve a 10% increase in total revenue. A report released at the meeting showed that in 2017 Saigon Co.op made some … [Read more...] about BUSINESS IN BRIEF 15/4

Vingroup, T&T to develop urban railway projects in HanoiThe government of Hanoi City has proposed the Prime Minister allow Vingroup and T&T Group to develop three urban railway projects which the city plans to complete by 2025, Tuoi Tre newspaper reports.The two domestic investors will use their capital to make pre-feasibility studies for these projects.When the projects were announced, many investors expressed interest in Hanoi. However, only Vingroup and T&T Group have registered to take part.Both of them proposed implementing the projects in the build-transfer (BT) format. Particularly, Vingroup registered to build the 38.4-kilometer metro line No. 5 which connects Van Cao and Hoa Lac and metro line No. 2 from Tran Hung Dao to Thuong Dinh with a length of 5.9 kilometers. Meanwhile, T&T Group is keen on metro line No. 4 connecting Me Linh, Sai Dong and Lien Ha, and measuring 54 kilometers in length.The two investors said they would use their own finances to study the … [Read more...] about BUSINESS IN BRIEF 9/1